Untangling the U.S. From China’s Economy Is Messy

News Snapshot:

Treasury Secretary Janet Yellen visited Vietnam this week to discuss her push for “friendshoring," a term she uses to call for companies to shift supply chains from China to friendlier nations. Trade between the U.S. and Vietnam has exploded in the last five years, reaching roughly $140 billion in 2022 from $60 billion in 2018. “We see great potential going forward to deepen those relationships," Yellen said while touring a Hanoi factory that relies on some Chinese components. She repeatedly praised the growing ties in meetings with Vietnamese Prime Minister Pham Minh Chinh and other Communist Party officials during her...